Neurocrine Biosciences (NBIX) FY2020 results: revenue $1.0 billion, up 32.7% on the year
Neurocrine Biosciences Inc. (NBIX) reported revenue of $1.0 billion for fiscal 2020, the year ended 31 December 2020, up 32.7% on the year before. Net income was $407 million, up 1000.5%, and diluted earnings per share $4.16. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2021.
Revenue
$1.0 billion
+32.7% on the year
FY2013FY2020
Operating margin
15.6%
9.2% a year earlier
FY2013FY2020
Net income
$407 million
+1,000.5% on the year
FY2013FY2020
Diluted EPS
$4.16
+966.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,046
788
451
+32.7%
Cost of revenue
10.1
n/a
4.9
Gross profit
1,036
n/a
446
Gross margin
99.0%
n/a
98.9%
Research and development
275
n/a
161
Selling, general and administrative
433
354
249
+22.4%
Operating income
163
72.3
36.8
+125.5%
Operating margin
15.6%
9.2%
8.2%
Interest expense
32.8
32.0
30.5
+2.6%
Pre-tax income
107
46.5
21.8
+129.3%
Income tax
-301
9.5
0.7
Effective tax rate
-281.7%
20.4%
3.2%
Net income
407
37.0
21.1
+1,000.5%
Net margin
38.9%
4.7%
4.7%
Diluted EPS
$4.16
$0.39
$0.22
+966.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
228
147
101
+55.4%
Capital expenditure
10.9
14.7
24.8
-25.9%
Free cash flow
218
132
76.6
+64.5%
Free cash flow margin
20.8%
16.8%
17.0%
Cash from investing
4.1
-211
-243
Cash from financing
-158
32.4
29.5
Depreciation and amortisation
8.6
n/a
4.0
Share-based compensation
100
75.3
58.1
+32.9%
Diluted shares, weighted
98m
96m
95m
+2.2%
Shares outstanding at period end
94m
92m
91m
+1.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,126
637
481
+76.8%
Debt
318
409
388
-22.2%
Operating lease liabilities
94.4
86.8
0.0
+8.8%
Other liabilities
196
174
124
+13.0%
Total liabilities and equity
1,735
1,306
993
+32.8%
Fixed assets
44.6
41.9
33.9
+6.4%
Investments
841
858
725
-2.0%
Cash and equivalents
187
112
142
+66.6%
Receivables
157
127
57.4
+24.1%
Inventory
28.0
17.3
10.9
+62.0%
Other assets
477
150
24.1
+217.8%
Total assets
1,735
1,306
993
+32.8%
10-K for the year ended 31 December 2020, filed 5 February 2021: the filing.